One of the driving goals at Next Wave is to increase diversity in angel investing and high growth entrepreneurship. Our first pilot programs in 2015 and 2016 sought to narrow the gender gap in angel investing by providing nearly 200 women a unique learning opportunity that allowed them to build a diversified portfolio of investments, receive mentoring by women who were experienced angel investors, and participate in an education & training program around angel investing. Next Wave’s newest fund, the Next Wave US Impact Fund I, also seeks to increase diversity in angel investing by engaging more underrepresented groups in early stage investing. However, the focus of the new fund is on impact and we will seek investments that achieve both social impact and financial return. There are 99 women in this new fund, 25 of them women of color. (Read a short history here).
“I’m learning so much and most importantly it’s so refreshing/comforting/exciting
Defining Values & Impact
Next Wave Impact Mission/Vision
- Drive diversity in Angel Investing. Engage more women as Entrepreneurial Investors.
- Support companies that are making or have the potential to make a significant positive impact on people, planet and our communities.
- Provide a competitive return.
Defining Our Values/What We Stand For/How We Operate:
- Transformational Impact – Focusing on creating meaningful, innovative, impactful, positive change for people, planet and communities.
- Experiential Education – Providing the interactive education, encouragement and opportunity to broaden the number of female angel investors and entrepreneurs in the impact investing space.
- Integrity – Acting always with integrity, transparency and respect in all aspects of education and investment.
- Collaboration – Encouraging collaboration internally across Investment Committee & LP’s as well as externally with additional Angel groups and Entrepreneurs; Leveraging the power of collective wisdom, diverse industry expertise and different points of view to drive learning and success.
- Inclusive Community – Building a strong interactive community of investors and entrepreneurs that shares goals for successful impact investing and embraces a full range of diverse background and experiences; Align with other impact and gender-lens initiatives to further drive inclusion.
Note: Metrics to track alignment with these values may be developed and built into future assessments.
Defining Desired “Impact”:
Seeking to invest in companies that: “Make a significant positive impact on people, planet and our communities” and “Ensure a positive triple bottom line of People/Planet/Prosperity”
All companies considered for investment must be:
- Impactful (in a measurable way)
- Scalable (to drive impact & profitability)
- Profitable (for returns & sustainability)
Examples of key “positive impact” characteristics/criteria:
- Making the world a better place or creating meaningful positive social and/or environmental change is a core part of the Company’s Mission/Values/DNA – Impact is clearly part of the mission/vision/values; Evident in the founder’s story and in the way company operates.
- Company products, services or solutions create positive social and/or environmental impact on people and/or planet that helps positively transform people’s lives in a significant way – Solves a serious problem; Makes the user’s life appreciably better. Examples: Improving health outcomes; Increasing food security; Supporting community investment; Promoting environmental sustainability
- Company is committed to meaningfully improving quality of life … for a significant number of people… and/or for an underserved population…for the long term – Elevates an underserved population (e.g. closes gap between haves & have nots over time); Helps bring people out of poverty and levels the playing field for all to reach their aspirations and goals in life. Examples: Promoting cleaner environment; Raising educational levels in underperforming populations; Improving employment opportunities for economically disadvantaged; Promoting improvement in social justice.
Overall, we strive for our portfolio of investments to contribute to transformational change across multiple impact sectors such as:
· Health & Wellness
· Community Development
· Financial inclusion, Fin-Tech
|· Sustainable products & fair trade
· Natural resources and conservation
· Renewable energy and climate change
· Sustainable agriculture
The Next Wave US Impact Fund I is an approved fund listed in Impact Base, the global online directory of impact investment vehicles. According to the Global Impact Investing Network (the “GIIN”), impact investments are defined as investments that are made into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return.
We have also set up a 501c(3) nonprofit organization, the Next Wave Foundation, which will focus on supporting education and training programs in emerging markets, as well as building a more inclusive global network of women investors and entrepreneurs (and the men who support them). The Next Wave Network is a global movement to increase women’s participation in angel investing as an asset class. It has been developed to provide an enriching investment experience; including an investment portfolio in start-ups, an education of the investment process, and the development of a global angel community of successful business women across the US, Europe, Africa, Middle East, Asia, and Latin America.